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TradeDirect365 is an Australian broker that offers trading in CFDs, currencies, indices, stocks.
About company. Fund security
TradeDirect365 is a brand of Finsa Pty Limited which is regulated by the Australian Securities and Investment Commission (AFSL No. 422661).
According to ASIC requirements, the minimum capital that brokers must have is AU $ 1,000,000. In addition, regulated companies must report on their activities. Client funds are held in a Level 1 AA bank (Westpac Bank) and are not used for the broker's personal purposes.
A regulator like ASIC is rated by some experts as average in terms of security. However, it is the only supervisory authority on the continent, and over 500 companies are under its authority.
Trading conditions
The company offers several types of accounts: personal, corporate, trust and joint accounts.
Spreads and commissions
The broker's commission starts at $ 5. And spreads from 0.8 pips.
For Forex trading, the required margin is usually 0.5% depending on the instrument.
For CFDs, it ranges from 5% for the most liquid stocks to 30% for illiquid stocks. Margin requirements are reduced when stop loss is set at the time of order. The calculation is based on the distance of the current trading price to the stop loss level.
Leverage
TradeDirect365 has set maximum leverage at 1: 200 on currency pairs. The leverage for CFDs is 1:20. These are not the highest leverage ratios in the industry, but it is worth remembering that high leverage brings not only more income, but also more losses. If you are confident in your abilities and know how to manage risks, you can find brokers with leverage up to 1: 1000 in our rating.
Trading platform
The broker offers to trade on the trading platform of the same name. TradeDirect365 is an intuitive trading app for beginners and professional traders alike.
Clients get access to:
stop loss orders; free demo recording; world stock exchanges for CFD trading; full featured charting program; automatic advisors and experts; your trading statistics.
TradeDirect365 provides access to its main trading platform via iPhone, Android mobile, iPad, Android Tablet and Windows Tablet.
TradeDirect365 also provides access to MT4 and CloudTrade.
The only difference with MT4 versus CloudTrade is the number of global markets you have access to. On MT4 TradeDirect365 you cannot trade individual CFDs. But you can access the Forex, Index Markets and Commodity CFDs.
additional services
TradeDirect365 has its own analyst who provides technical analysis reviews on a daily basis. The site also contains educational materials. In addition, several trainings and webinars are offered.
Support service
The broker offers professional 24/5 phone and email support, and a live chat function is available from 9:00 to 17:00 Mon-Fri.
Ways of payment
There are several ways to fund an account: bank transfer and Bpay. The broker draws the attention of traders to the fact that it accepts money only from personal accounts of the same name. This requirement is applied in accordance with the ASIC's anti-money laundering regulations.
Finsa Pty Limited can only return money to customers to the bank accounts from which the deposit was made.
TradeDirect365 customers can also use BPAY to deposit funds. You must enter your personal account from a computer or mobile device and follow the instructions to transfer money.
Money is usually credited to the account within 1-2 business days. Broker's main currency: Australian dollars. If you have deposited US dollars or euros, then they will be converted to the base currency.
Pros:
demo account; regulated broker; selection of trading platforms.
Minuses:
small selection of payment methods.
TRADEDIRECT365 is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.
In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.
As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.
TRADEDIRECT365 profits from traders' trades, usually in two main ways
.
First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.
The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.
Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.
The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.
The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points – it is the place of registration and regulation of the company's activities.
First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.
On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.
No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.
Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.
Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.
Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Companies who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the company you chose. TRADEDIRECT365 received a score of 1 of 5 on our resource.